SUNBURY, Pa. -- Weis Markets here said net income totaled $17.8 million in the second quarter ended June 25, slightly above last year's second-quarter result.
rgin of 4.96% of sales Weis reported in last year's second quarter, but it still ranks among the highest net margin in the supermarket industry, according to industry statistics.
Weis, which operates 142 stores in a six-state Mid-Atlantic area and a food-service supply business, did not release same-store sales results.
In late June, as reported, Weis said it intended to purchase King's Supermarkets, Hamburg, Pa., for an undisclosed amount. The six "high-volume Kings stores" are a good fit and do not cannibalize sales at existing Weis stores, the company said in its second-quarter results statement.
The acquisition is expected to close Aug. 1, Weis said.
The King's stores will continue to be operated by the existing management, but will be supplied primarily from Weis facilities here and in Milton, Pa.
Weis also said it completed one store remodel during the quarter. Three new stores are under construction.